Brazil brewer Ambev beats Q3 net profit estimates on local market momentum

Ambev SA

27/10/2022 11:03

SAO PAULO, Oct 27 (Reuters) - Brazilian brewer Ambev SA
 ABEV3.SA  on Thursday reported a third-quarter net profit of
3.21 billion reais ($596 million), down 13.4% from a year
earlier but beating estimates thanks to  positive momentum in
its home market.
    Analysts expected net income of 2.48 billion reais,
according to a poll by Refinitiv. 
    Net revenue jumped 11.3% while volumes sold increased by
1.3%.
    "Our Brazil businesses continue to build momentum,
delivering double-digit revenue and EBITDA growth, which more
than offset continued headwinds in some of our international
operations," CEO Jean Jereissati said in a media release.
    ($1 = 5.3849 reais)
 (Reporting by Gabriel Araujo; editing by Jason Neely)
 ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5644 7745;))